S Korean, Japanese leaders vow joint efforts to overcome economic slump

Special Report:Global Financial

Crisis

SEOUL, Jan. 11

(Chinese media) -- South Korean President Lee Myung-bakand Japanese Prime Minister Aso

Taro vowed here on Sunday that the two countries will make joint efforts to

overcome economic slump.

"The world has greatly changed. It is facing a crisis

that is simply unthinkable, so I believe South Korea and Japan strengthening

their cooperation it would help greatly in overcoming that crisis," Lee said at

his speech in a state dinner for Aso.

Aso, who arrived in Seoul on Sunday for a two-day

visit, said that "In the sense that the world does not yet have a system that

can deal with this new kind of crisis, we must reflect on ourselves and

establish a system that will make sure such a crisis will never recur."

In an earlier meeting with South Korean and Japanese

leading businessmen here, Aso suggested to resume negotiations for Free Trade

Agreement (FTA) between Seoul and Tokyo as soon as possible so as to revive the

two neighbors' economies, stressing that the FTA pact will bring about benefits

to both countries' businesses.

Aso and Lee are set to hold summit Monday morning.

They are expected to discuss, among others, bilateral economic cooperation,

regional affairs including the nuclear issues on the Korean Peninsula.

"President Lee and Prime Minister Aso will exchange

views on a wide range of issues, such as ways to maintain and develop

Korea-Japan relations and boost substantial cooperation in the economic sector,

including financial markets," South Korea's Presidential Office said earlier.